What Is Passive Income & How To Achieve It

So what is passive income? In the most simple of terms, Passive Income is income received on a regular basis that requires very little effort from yourself to maintain it and make sure it keeps coming in, Be this months or years down the line.

It’s the best form of income. Once you have put in the initial effort or time to create the passive income that’s it. You can just get on with your normal day to day routines safe in the knowledge that you have another income that is being generated daily all of its own accords.

It is the best case practice to have multiple revenue streams coming in. Not just from your main income which is likely to be your daily job, but also other incomes. Passive income needs to be at least one of these revenues.

For example, I have my main job. I also have around 4 or 5 other income streams. And then this blog. With my blog, there has been a lot of effort put in. However with revenues such as affiliate income, in the next few months, this will turn into passive income that will continue to pay me for as long as there are visitors to my blog.

This is a brief description of what is passive income and how it can help you earn consistently month on month.

Some of my posts may contain affiliate links. This simply means if you purchase something after clicking one of the links I may receive a commission at no extra cost to yourself. Many thanks for the continued support.

My Favourite Forms Of Passive Income

So its all very well having this amazing passive income pouring into your bank account every week but how on earth do you get it.

Affiliate Income

So when it comes to working out what is passive income this has to be my favorite. This is Affiliate Income. It is quite a broad income bracket and covers a lot of different things. Affiliate income is basically the process of earning a commission for promoting other people’s products.

You find a product you like and promote it. Once a sale is made you earn a percentage of that sale. Blogging and having your own website with a good amount of traffic is the best way of doing this.

For example, my blog is hosted by Siteground and I am also an Affiliate for them as well. Being as they provide a great service for me I’m pleased to promote their product and simply add their link into appropriate posts so people can click and get hosting for their own sites. Here is what that link looks like. Get great blog hosting here

If you do need or want to learn more about hosting and starting a blog then feel free to read my first months income and blog growth report

You can, however, earn affiliate income by promoting products using other media such as Pinterest or youtube. Affiliate income is the best passive income to start out with as you don’t need a lot of knowledge to earn from it. You can also start earning as an affiliate right from the start.

Simply join an affiliate program for free and look at the different vendors they have. Pick one that suits you or has products you would like to promote. Then drive traffic to whatever outlet you are using and wait for the sales and the money to come your way.

So when you are asking what is passive income and looking further into it, do not ignore affiliate marketing.

Pay Per Click

Pay per click or PPC is another form of affiliate marketing whereby you join a program, Google Adsense being one of the first, and then they place ads on your site. When people click on these ads you get a small amount of money.

This works really well and you can earn good money but you do need a lot of traffic. However, used in conjunction with promoting affiliate products it is a good stream of income.

Ebooks

Ebooks are another great way to make a passive income. These can be written by yourself and either sold as a stand-alone product or as part of a course on your website. For example, lots of bloggers produce an ebook on a particular subject and then sell it on their site.

Amazon Kindle have their own direct publishing program, Write a book or guide (It doesn’t have to be a novel) then upload it to amazons site. Add a snappy cover and hey presto. People could be buying your book months or years down the line and you are still making a passive income.

Create A Course

Now this one works really well if you already have a website and a good amount of visitors to that website. If you are an authority in a certain area, for example how to make money from a blog, then you can create a course and sell it on your blog, via people seeing it on your blog or site or via your email list.

If you don’t have a blog or website you can create a course on Udemy. Udemy supplies video courses for people to buy. As a content producer, you can create a video course. Just click on the “Teach At Udemy” button and it is all explained in simple terms. Put the knowledge you possess out there and help others while earning a passive income. Once the course is designed then you should never need to put any more work into it.

Create & Sell T-shirts

This is a lot easier than you think, no shipping issues, No packing issues. Create your design on a free program such as Canva, Then join up to the Amazon Merch site and send your design using their clever upload program. Select colors and add your description. There no fees because your product doesn’t even get made until it has been sold.

Once sold, Amazon goes to work quickly printing out your product and then handle packaging and shipping without you lifting a finger or paying any fees. You then earn a commission from that sale.

At the moment you have to request an invitation and answer a couple of questions about your background and experience but it’s not too hard to do.

A great way to earn passive income especially if you happen to be creative, but it will work even if you are not creative. Believe me when I tell you I’m not creative in the slightest. Just keep your design simple.

Where Can I Sign Up

Obviously, Amazon Affiliates is the best place to start and you have the backing of one of the biggest players in the marketplace.

Not only this but with Amazon, you can have your pick and choose any of their millions of products. Amazon associates are the best one to start out with on your affiliate journey.

Clickbank is another good affiliate that has been around for many years. They mainly feature digital products such as forex courses, Mobile apps, and websites sign-ups.

Commission Junction now known as CJ Affiliate has a huge database of products, Not just digital like Clickbank. They also have some great niches if you’re looking to narrow down your target audience.

eBay Partners has like Amazon one of the biggest marketplaces available. If you have ever spent hours just browsing eBay not looking for anything in particular then you know what I’m saying when I’m talking about the depth of items that you could promote.

Shopify is a great e-commerce provider used by many bloggers and website owners. If you send a new buyer there then you get great commissions. The good thing about Shopify is it has pretty much cornered its specific marketplace.

Studiopress is a great affiliate for people like myself. If you want a new clean and well working, Gorgeous theme then Studiopress is the right place for you. And if you love the themes they sell then how easy will it be for you to sell them to your readers, Lots of who will also be bloggers looking for glamorous themes for their own blogs.

Go Create Passive Income

So as you can see there are so many ways to go about earning a passive income. There also some I haven’t mentioned that will need a bit of investment.

The choice is yours so get out there and start earning some great income month on month and expand your own list of affiliates.